Cyprus is one of the most acclaimed jurisdiction for setting up a FOREX broking company. CYSEC is a renowned regulatory body for FOREX regulation. Being part of the European Union, Cyprus does not fall only under the Cypriot financial services regulatory body also known as the CySec (Cyprus Securities and Exchange Commission) but also under the EU Markets in Financial Instruments Directive – MiFID and the European Law.
Although obtaining a licensing in Cyprus is not as simple as in other regions due to the strict authorization requirements it offers customers peace of mind that the company is fully regulated.
Documents required to be granted a license:
Corporate documents of the company such as the incorporation certificate, certificate of directors/secretary, shareholders and Memorandum of Association andArticles of Association
The CIF application form
A three year business plan
The internal procedures manual along with the anti-money laundering and know your client procedures have to be filed with the application.
Starting Offshore’s consultants can provide assistance starting from the preparation of documents, to the submission of the application to CySEC as well as post-submission support until you acquire the EU MiFID CySEC license.
CySec has up to 6 months from the moment we submit your application.